India gold futures hit new record

India's most-active gold futures on the Multi Commodity Exchange (MCX) recovered from its early losses to hit a record high of Rs 21,112 per 10 grams, helped by a weaker rupee and firm overseas leads.

Gold for April delivery was trading 0.54% higher at Rs 21,098 per 10 grams, recovering from a low of Rs 20,931 struck earlier in the session.

The Indian rupee fell further on Thursday given the surging crude oil prices and persistent weakness in domestic shares, traders said.

The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.